Akamai Technologies Inc (NASDAQ:AKAM) shares traded -11.00% lower at $91.19 on Wall Street last session.
AKAM stock price is now -13.75% away from the 50-day moving average and -16.45% away from the 200-day moving average. The market capitalization of the company currently stands at $13.82B.
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With the price target enhanced from $128 to $135, Robert W. Baird Upgraded its rating from Neutral to Outperform for Akamai Technologies Inc (NASDAQ: AKAM). On February 15, 2024, HSBC Securities Downgraded its previous ‘Hold’ rating to ‘Reduce’ on the stock reducing its target price from $109 to quote $96, while ‘Susquehanna’ rates the stock as ‘Positive’
In other news, Karon Adam, COO & GM Edge Technology Group sold 14,349 shares of the company’s stock on Mar 22 ’24. The stock was sold for $1,575,233 at an average price of $109.78. Upon completion of the transaction, the COO & GM Edge Technology Group now directly owns 6,697 shares in the company, valued at $0.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 15 ’24, COO & GM Edge Technology Group Karon Adam sold 8,394 shares of the business’s stock. A total of $908,734 was realized by selling the stock at an average price of $108.26. This leaves the insider owning 21,046 shares of the company worth $1.92 million. A total of 1.86% of the company’s stock is owned by insiders.
During the past 12 months, Akamai Technologies Inc has had a low of $83.12 and a high of $129.17. As of last week, the company has a debt-to-equity ratio of 0.99, a current ratio of 3.19, and a quick ratio of 3.19.
According to the Software – Infrastructure Company, earnings per share came in at 1.49, beating analysts’ expectations of 1.41 by 0.08. This compares to $0.62 EPS in the same period last year. The net profit margin was 16.12% and return on equity was 14.22% for AKAM. The company reported revenue of $986.97 million for the quarter, compared to $915.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.78 percent. For the current quarter, analysts expect AKAM to generate $1B in revenue.
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